November 2023
MakerDAO’s Christensen wants to make DAOs fun again. He’s not alone.
Projects are rethinking how to make DAOs more fun and less disappointing.
From Silicon Valley to Sand Dunes: Why Indian crypto firms eye Dubai expansion
Indian crypto companies flock to Dubai, escaping high local taxes and finding solace in the emirate’s favorable regulatory environment.
Can spot Bitcoin ETFs push Hong Kong to the crypto throne?
Top blockchain and crypto news: Hong Kong mulls Bitcoin ETFs, Ordinals flip Ethereum NFTs, IPO comes full circle.
NFTs are mainstream again?
The Simpsons dedicates its annual Halloween special to NFTs, as data signals continued uptrend in the NFT market.
SBF trial drama fails to dampen Bitcoin’s meteoric October
Top blockchain and crypto news: Bankman-Fried’s memory lapses, betting on the return of NFTs, ETF dreams and Bitcoin’s Uptober
NFT’s October treat
October sees NFT resurgence with US$300 million in sales despite negative trade profits; SoFi platforms face challenges amid financial scrutiny.
October 2023
‘Uptober’ narrative saved by spot Bitcoin ETF bounce
Often dismissed as coincidence, October has once again produced an upswing in the crypto market, with excitement around a potential U.S. spot Bitcoin ETF to thank for this year’s ‘Uptober.’
Bitcoin soars amid buzz of potential ETF approval: Is a crypto renaissance on the horizon?
Top blockchain and crypto news: Bitcoin ETF potential pumps life in markets. Ethereum NFTs back on rise. Major industry layoffs continue.
NFTs dressing up as a bull?
Amid Bitcoin’s ‘Uptober’ surge and Friend.tech’s security concerns, traders pivot back to NFTs, spurred by Blur’s rewards end date and potential Bitcoin ETF approvals.
US spot Bitcoin ETFs — crypto’s silver bullet?
Amid news, fake or otherwise, of an imminent approval for at least one spot Bitcoin ETF, Bitcoin’s price has skyrocketed. Could a year of pain in the crypto industry be over?
Binance’s rollercoaster week: expansion, setbacks, and the ghost of FTX’s collapse
Top blockchain and crypto news: Is Japan a new frontier for Binance? AI art sweeps NFT sales. ETF buzz electrifies Bitcoin.
Traders split from Blur for fractionalized NFTs
As the NFT tide shifts, traders seek new horizons. While Blur and OpenSea grapple with change, SoFi and fractionalized assets emerge as the next big wave.
Binance Japan — death knell or savior for the nation’s smaller crypto exchanges?
Few tokens and too many exchanges are a bad recipe for Japan’s smaller crypto trading houses. The experts say there’s room for up to five only. So what happens to the little guy now that the world’s largest exchange Binance has rolled back into town?
Binance: One year on from FTX’s downfall
Inside the world’s largest crypto exchange’s annus horribilis.
Israel-Palestine crisis: Navigating the intersection of conflict, aid and blockchain
Top blockchain and crypto news: Gaza tensions, digital tremors, NFTs are not dancing in September, Joe Lubin talks traditional system’s twilight.
Ethereum NFT production falls to all-time low in September
NFT production on Ethereum fell to an all-time low in September, as the floor prices of blue-chip NFT collections continued their decline.
Pudgy Penguins were bred for the NFT Winter
As ‘Floptober’ rattles the NFT world, Pudgy Penguins emerge as unlikely victors, spotlighting the potential of IP-focused tactics.
Blockchain’s 2 billionth user could be an AI, says Joe Lubin
The CEO of blockchain services provider Consensys and co-founder of Ethereum spoke to Forkast at the Token 2049 crypto conference in Singapore. He discussed decentralization and what he sees as the crucial role to be played by blockchain in AI and vice-versa.
Coinbase is “doubling down” on Singapore following license, says country director
The largest U.S.-based cryptocurrency exchange will be launching more products and services in the Lion City, Coinbase’s Hassan Ahmed says.
Crypto trust on trial: Bankman-Fried faces judgment
Top blockchain and crypto news: Spotlight on Bankman-Fried, Pudgy Penguins’ new revenue stream and Google’s Web3 goggles
How the NFT market peaks and bottoms differently from the rest of the industry
Cryptocurrencies and NFTs are evolving and carving out distinct niches, prompting a closer look at their diverging paths and the emerging trends in the digital financial landscape.
Uptober in crypto, Floptober in NFTs
October’s ghouls and ghosts seem to spook NFT markets too. While Bitcoin shines bright every autumn, NFT traders brace for a ‘floptober’ dip.
Silver Lining? Google Cloud’s head of Web3 talks Big Tech possibilities for the blockchain
At the Token 2049 crypto conference in Singapore held Sept. 13 to 14, Google Cloud’s James Tromans spoke to Forkast about a possible marriage between Webs 2 and 3.
September 2023
Back from the dead: Can FTX stage a comeback?
The prospect of FTX’s return to the competitive exchange landscape is being keenly watched by stakeholders, reflecting on its meteoric rise, groundbreaking approach, and tumultuous fall.
Philippines no plans to mirror U.S. SEC’s ‘crypto crackdown’, to publish crypto framework by H1 of 2024, says securities regulator
The Philippine Securities and Exchange Commission delayed the publishing of a crypto framework earlier this year citing the FTX collapse in late 2022 as the reason.
‘There’s no doubt we picked a side here’ — Chainalysis founder Michael Gronager talks analytics, Ukraine and crypto adoption in Asia
In the second in a series of 1-on-1 interviews from the Token 2049 crypto conference in Singapore held Sept. 13-14, Michael Gronager, founder of blockchain analytics firm Chainalysis, spoke to Forkast about crypto use in the Ukraine conflict, tracking illicit on-chain activity and digital asset adoption in Asia.
SEC Chair Gensler faces bipartisan backlash over strict crypto regulations
Top blockchain and crypto news: U.S. lawmakers berate SEC over ETF applications. NFTs down but not dead. Hong Kong sees year’s biggest crypto heist so far.
NFTs are 94% worthless and also up over 52,000%
Amidst the cycles of blossoming and withering in the NFT marketplace, a significant majority of NFTs find themselves succumbing to worthlessness, leaving the persistent 5% to defy the fleeting trends.
AI, Asia and analytics — an interview with Nansen’s Alex Svanevik
Blockchain analytics are key to understanding the nascent crypto industry. But the analysis sector is far from immune from the pressures of the ongoing crypto bear market. In the first of a series of 1-on-1 interviews from the Token2049 conference held in Singapore Sept. 13-14, Alex Svanevik, CEO of blockchain analytics firm Nansen, sat down with Forkast to discuss current crypto challenges, the Asia growth market and the increasing use of artificial intelligence in the industry.
Hong Kong may tighten enforcement amidst JPEX scandal, says former SFC official
The JPEX scandal sheds light on the vulnerabilities in Hong Kong’s crypto marketplace, prompting reflection on regulatory safeguards as the city aspires to be a global digital asset hub, former SFC regulator Angelina Kwan says.
US SEC to tighten regulatory enforcement beyond Coinbase, Binance.US
Top blockchain and crypto news: U.S. SEC steps up regulatory enforcement. Gaming giant Zynga moves into NFTs. Woes ahead for JPEX exchange after HK arrests.
There’s a new game in town
Zynga’s free Sugartown Oras NFTs spotlight the power of mystery in the digital asset realm as prices surge on speculation.
Friend.tech a surprise hit among crypto investors at Token2049 as they urge ecosystem expansion
Funders see the novel social media network as emblematic of an abundance of opportunity in crypto and DeFi amid infrastructure gaps and increased integration with real-world assets
Crypto and Formula One’s honeymoon is over, can Web3 save a rocky marriage?
The third installment of Forkast’s ‘Crypto in Sport’ series comes from Singapore, which this week plays host to Formula One’s Singapore Grand Prix. Crypto companies poured hundreds of millions of sponsorship money into F1 at the height of the bull market, but might a prolonged crypto winter pull the plug on this marriage of convenience? Or can diversification and real world use cases help breathe new life into the relationship? Welcome to crypto’s very own drive to survive.
Who’s who in the Sam Bankman-Fried trial?
FTX’s former CEO, Sam Bankman-Fried, faces DOJ scrutiny with seven charges. Here are the six key figures in the coming crypto courtroom showdown.
Bitcoin collectibles: a diamond in the rough
Bitcoin’s NFT sales dip mirrors early challenges of Ethereum; is the pioneer blockchain set for a comeback in the collectibles market?
Nepal central bank plans CBDC within two years, crypto and stablecoin still excluded, says spokesperson
It has been more than a year since Nepal’s central bank, the Nepal Rastra Bank, initiated amendments to the law to enable the issuance of the digital version of the Nepalese rupee. What is the status of its CBDC?
Korea Blockchain Week: diverging crypto paths for the US and Asia
The annual Korea Blockchain Week conference in Seoul is running from Sept. 4 to 10. Crypto industry leaders and advocates from around the world have gathered in the South Korean capital to discuss all things blockchain, including the growing regulatory gap between the U.S. and Asia.
From Fukuoka to the world? The Japanese DAO trying to shake up sports fandom
In the second installment of Forkast’s ‘Crypto in Sport’ series we head to the land of the rising sun, where J1 League football club Avispa Fukuoka have incorporated a first-of-its-kind DAO into their operations. Can the DAO provide a model for the rest of the sports world to follow? Can it change the way fans engage with their clubs?
Coinbase and Wall Street: The merging worlds of TradFi and crypto
Top blockchain and crypto news: Coinbase steps up to fill void of crypto lenders. NFTs extend losses. What’s next for crypto as Singapore gets a new president?
The End of the Beginning for NFTs
SEC charges shake NFT market as pricey assets record losses and global sales hit new lows, marking the onset of a transformative era for digital collectibles.
India’s G20 presidency has failed to advance global crypto governance, ex-finance secretary says
With nine months under its G20 presidency belt, India’s approach to cryptocurrency governance remains static. Amid regulatory ambiguity, the nation’s crypto industry struggles to cope with stringent tax rules.
SEC delays verdict on BlackRock’s ETF application; Will Bitcoin ETFs see light of day?
After Grayscale’s legal win, the SEC decided to postpone its decision on spot Bitcoin ETF applications. Will these proposals be greenlit? And when?
The rise and continuing fall of Sam Bankman-Fried: A step-by-step guide to his case so far
The 9 key pieces of information you need to know ahead of the FTX founder’s first trial on Oct. 2
August 2023
Grayscale triumphs over SEC: A David v. Goliath win in the crypto arena
Top blockchain and crypto news: U.S. court compels SEC to review Grayscale’s ETF application. SEC zooms in on NFTs. Asia’s richest man eyes blockchain, CBDCs
A Dark but necessary time for NFTs is here
From Miami parties with A$AP Ferg to a historic NFT market slump: The highs and lows of the NFT world.
Could Rishi Sunak’s blockchain dream live on without him?
This final installment of a 3-part series on the U.K. digital asset industry looks at the politics driving the British crypto conversation. PM Rishi Sunak is a believer, but an election’s coming up, and his rivals appear less keen on turning the U.K. into a global crypto hub.
Rising tide or sinking ship
OpenSea’s royalty policy change ignites debate between tech advocates and creators. Mark Cuban calls it “a huge mistake as NFT market slides 6%.
‘Third category thing’ — untangling digital asset property law in England and Wales
How can we claim to own something that falls outside traditional categories of personal property? In this second installment in a 3-part series looking at the U.K. digital asset industry, Law Commissioner for England and Wales Sarah Green explains how.
By royal decree — the UK moves toward regulating crypto
This first installment in a 3-part series on the U.K. digital asset industry looks at recent efforts to regulate crypto and expand the sector.
Alotta NFTs, alotta volume
NFT data reveals a staggering 876,000 transactions across DMarket, DraftKings, Gods Unchained, and Sorare. DMarket alone boasts over 15 million NFTs. Combined, these giants account for nearly one-third of all NFT transactions.
Is PayPal’s new stablecoin a watershed moment for crypto?
PayPal launches stablecoin. Traditional gamers take on NFTs. Tough times ahead for Huobi.
Blockchain is fast, direct and all too cryptic — can it reshape international aid?
As explored in the first installment of this two-part series, crypto funding is being used to provide small but important items to troops on the frontline. But beyond the battlelines, how can crypto help get aid to civilians in times of crisis?
First aid kits, boots and batteries — how small but significant crypto funds are used in global conflicts
As war rages in eastern Europe, this first installment in a two-part series looks at the growing use of crypto funding in global conflicts, focusing on the small but significant provision of supplies to pro-Russian mercenary groups in Ukraine.
Japan’s blockchain group lobbies for tax change
Japan’s blockchain group urges tax change. Bitcoin NFT struggles but it may be a sleeping giant. Litecoin falls after halving.
Bitcoin Ordinals profitability falls in July, but total inscriptions pile on
Revenue for NFT services on the Bitcoin network, or the aggregate value of marketplace fees and creator royalties, declined over July even as total Ordinals inscriptions crossed 20 million.
The diversity in NFTs
NFT trading volumes continue to stay low but gaming NFTs gave traders some positive news this week.
Crypto’s latest inflection point an opportunity for Asia to lead, says Circle’s Yam Ki Chan
Speaking at the WebX Asia conference in Tokyo, Circle’s Singapore-based vice president of strategy and policy discusses U.S. regulation, growing pains in the crypto industry and Asia’s burgeoning role as a Web3 innovator.
July 2023
Is Worldcoin’s free crypto more than just a freebie?
Concerns arise over Worldcoin’s free crypto. NFT market does a crabwalk. Japan’s next big thing for the metaverse.
Tokyo governor joins prime minister in promoting Japan as open for Web3 business
The Tokyo WebX Asia conference, which claimed to be the largest of its kind in Asia, wrapped on Wednesday after two days of exhibitions, crypto-themed side events, and debate on what Japan needs to do to be a central part of the future of the digital asset industry.
Sky Mavis and CyberKongz Plan to Win Together
CyberKongz plans a shift to the Ronin blockchain alongside Axie Infinity as Sky Mavis gears up for its first PFP collection and third-party NFT mint.
XRP triumphs over SEC, but crypto clarity remains in the shadows
Top blockchain and crypto news: Ripple not clear of hurdles | NFTs in historically slow period | Hong Kong banks dither
NFTs, Where did the buyers go?
Despite ample Ethereum holdings, traders appear less willing to invest in NFTs. Ethereum wallet growth data in 2023 suggests low NFT sales, while Ether used for NFT sales has dropped to 2021 levels.
Standard Chartered’s great expectations for Bitcoin in 2024
Top blockchain and crypto news: Standard Chartered eyes US$120,000 per Bitcoin | Another week of declines in NFT market | Sega and Line team up.
NFT recovery or new bottom discovery?
Blur has been adding demand for specific collections by incentivizing floor NFT trading, which may have mitigated aggressive price undercutting for liquidty.
Sega says still exploring Web3 game initiatives despite reports of withdrawal
The Japanese gaming giant is currently somewhere in the Web 2.3 to 2.7 range, says co-Chief Operating Officer Shuji Utsumi.
South Korea, Singapore, Thailand clarify crypto rules as U.S. in state of regulatory ‘warfare’
While Asia nations such as Singapore and Thailand seem to be following the U.S. regulator in frowning upon certain products offered by crypto exchanges, the approach in Asia so far seems to be clarity instead of court battles, in contrast with North America
How did Do Kwon move US$18 mln in stablecoins to ‘unfreezable’ tokens while in Montenegro jail?
A South Korean academic tracking on-chain data says Do Kwon, the imprisoned founder of the now collapsed Terra-Luna crypto project, seems to have outside help in moving stablecoins from his digital wallets into other cryptocurrencies.
Cardano ‘ghost chain’ outperforms top blockchains in NFT market
Despite a plunge in unique NFT buyers on Cardano, which earned it the nickname “ghost chain,” data reveals that the blockchain’s NFT market outperformed leading competitors such as Ethereum, Solana, and Polygon in June.
No surprise as Singapore, Thailand step up crypto regulation
Southeast Asia steps up regulation. No end in sight for NFT market decline. Voyager’s shrinking portfolio.
The NFT market’s historic new lows
NFT market recovers after Azuki’s Elementals mint debacle as traders report liquidity issues amidst price tumble.
Blockchain Alliance’s Raj Kapoor says the technology can reshape India’s governance systems
Kapoor founded the India Blockchain Alliance five years ago and gives an update on how the technology is being used in police reports to real estate transactions, as well as challenges of CBDC adoption and plans for tokenization of assets. He spoke in an interview for Forkast IQ.